Banking Crisis 1998–1999: Background to the Collapse
α΄΅βΏ α΅αΆ¦α΅α΅Λ’ α΅αΆ αΆΛ‘αΆ¦α΅α΅α΅α΅ α΅α΅α΅Κ³α΅α΅βΏαΆΚΈ https://climateclock.world/ The late 1990s marked one of the most turbulent periods in Croatia's financial history. Between collapsing banks, fraudulent savings schemes, and betrayed depositors, the trust in financial institutions was shaken to its core. The 1998–1999 banking crisis not only wiped out fortunes but also reshaped the country's economic landscape for years to come. Banking Crisis 1998–1999: Background to the Collapse By the end of the decade, Croatia's banking system was under immense pressure. Weak oversight, politically appointed managers, and risky lending practices had turned several financial institutions into ticking time bombs. In 1998–1999 alone, eight banks were pushed into bankruptcy —including Glumina, Gradska, Komercijalna, and Vukovarska banka—while DubrovaΔka and Croatia banka had to be rescued through state-funded bailouts. This cascade of failures eroded public confidence, with billions of kuna drained in ...